Uranium Energy (NYSEAMERICAN:UEC) Stock Price Down 4.9% – Here’s Why

Uranium Energy Corp. (NYSEAMERICAN:UEC) was down 4.9% on Wednesday . The stock traded as low as $8.17 and last traded at $8.18. Approximately 4,434,364 shares changed hands during trading, a decline of 42% from the average daily volume of 7,643,086 shares. The stock had previously closed at $8.60.

Analyst Ratings Changes

UEC has been the subject of several recent research reports. Roth Mkm reiterated a “buy” rating and issued a $10.25 target price (up previously from $9.75) on shares of Uranium Energy in a research note on Wednesday, October 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $10.25 price objective on shares of Uranium Energy in a report on Tuesday, September 24th.

Uranium Energy Stock Performance

The firm has a market capitalization of $3.48 billion, a P/E ratio of -140.98 and a beta of 1.82. The company’s fifty day simple moving average is $6.44.

Uranium Energy (NYSEAMERICAN:UEC) last posted its quarterly earnings results on Thursday, September 26th. The basic materials company reported ($0.03) EPS for the quarter. On average, sell-side analysts forecast that Uranium Energy Corp. will post 0.09 EPS for the current fiscal year.

Insider Activity at Uranium Energy

In other news, CEO Amir Adnani bought 60,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $4.10 per share, for a total transaction of $246,000.00. Following the completion of the purchase, the chief executive officer now owns 4,242,326 shares in the company, valued at approximately $17,393,536.60. This represents a 1.43 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Melbye purchased 9,500 shares of Uranium Energy stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $4.18 per share, with a total value of $39,710.00. Following the transaction, the executive vice president now directly owns 988,031 shares of the company’s stock, valued at $4,129,969.58. This represents a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uranium Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC bought a new position in shares of Uranium Energy in the 1st quarter worth approximately $75,000. Vanguard Group Inc. boosted its stake in shares of Uranium Energy by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 22,761,516 shares of the basic materials company’s stock worth $153,640,000 after acquiring an additional 538,703 shares during the last quarter. American International Group Inc. grew its position in shares of Uranium Energy by 1.0% during the 1st quarter. American International Group Inc. now owns 189,900 shares of the basic materials company’s stock valued at $1,282,000 after acquiring an additional 1,844 shares during the period. EntryPoint Capital LLC increased its stake in shares of Uranium Energy by 897.7% in the 1st quarter. EntryPoint Capital LLC now owns 4,340 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 3,905 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in Uranium Energy in the 1st quarter worth $618,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Uranium Energy Company Profile

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.